A musician is an artiste. He creates music in the form of beautiful symphonies that has the capability to enthrall listeners for generations. But if a musician has to survive in this tough world today and that is why he has to understand the importance of insurance. We often have the misconception that insurance is limited to only a few valuable things in life like life, health, automobile etc. But as mentioned, that’s a misconception. In reality there are different types of insurance offered by different companies for a wide range of products and services. One of them is music insurance. Under this broad category, you will find insurance for various musical instruments. Brass is one of the musical instruments that are insured by these companies.
Brass instrument has become quite a rare musical instrument today and is very expensive. If you play the brass, it is advisable that you immediately get it insured. Insurance will not only protect it from damage but also help you repair it. Moreover if it gets stolen, you can also claim insurance and purchase a new one with the money. There are several long-term advantages of insuring the brass instrument. But you also need to be careful while choosing an insurance company. It is best if you spend time researching on some of the popular insurance companies and compare their policies before taking any decision. Below I have mentioned a few questions that you can ask while comparing musical instrument insurance policies.
• What is the premium like? This should be one of your major concerns because certain companies have a minimum amount marked for premiums. So you need to make sure whether a $500 premium is worth for $2000 worth string instrument insurance.
• Does the insurance company have a Worldwide Equipment Coverage? If you are a traveling musician who moves around the world with your instrument, you must get protection even when traveling abroad.
• What else is covered under the coverage? If you are a tech-savvy musician who uses the computer and mixer on an everyday basis, you must ensure that even these are protected under the insurance. Another type of coverage that you must look out for while getting your instrument insured is the valuable papers and accounts receivable coverage. This type of coverage ensures that your records can be recreated when you wish.
• Does the insurance cover borrowed instruments and equipment? There can be instances when you play on borrowed instruments and insurance coverage helps. If you do not have such coverage, you can easily include it under the policy when required.
• How does the insurance company cover inflation? Is there an automatic inflation adjustment procedure or has the company mentioned the price tobe paid after adjustments?
• Does the insurance offer coverage when instrument gets damaged due to natural disasters such as earthquake and flood?
Since there are many aspects of brass musical insurance, you need to talk in length with your agent so that you understand the policy completely before signing for any plan.
Brass instrument has become quite a rare musical instrument today and is very expensive. If you play the brass, it is advisable that you immediately get it insured. Insurance will not only protect it from damage but also help you repair it. Moreover if it gets stolen, you can also claim insurance and purchase a new one with the money. There are several long-term advantages of insuring the brass instrument. But you also need to be careful while choosing an insurance company. It is best if you spend time researching on some of the popular insurance companies and compare their policies before taking any decision. Below I have mentioned a few questions that you can ask while comparing musical instrument insurance policies.
• What is the premium like? This should be one of your major concerns because certain companies have a minimum amount marked for premiums. So you need to make sure whether a $500 premium is worth for $2000 worth string instrument insurance.
• Does the insurance company have a Worldwide Equipment Coverage? If you are a traveling musician who moves around the world with your instrument, you must get protection even when traveling abroad.
• What else is covered under the coverage? If you are a tech-savvy musician who uses the computer and mixer on an everyday basis, you must ensure that even these are protected under the insurance. Another type of coverage that you must look out for while getting your instrument insured is the valuable papers and accounts receivable coverage. This type of coverage ensures that your records can be recreated when you wish.
• Does the insurance cover borrowed instruments and equipment? There can be instances when you play on borrowed instruments and insurance coverage helps. If you do not have such coverage, you can easily include it under the policy when required.
• How does the insurance company cover inflation? Is there an automatic inflation adjustment procedure or has the company mentioned the price tobe paid after adjustments?
• Does the insurance offer coverage when instrument gets damaged due to natural disasters such as earthquake and flood?
Since there are many aspects of brass musical insurance, you need to talk in length with your agent so that you understand the policy completely before signing for any plan.
No comments:
Post a Comment